(MENAFN) Oman's Oil Ministry said that the Sultanate's energy sector needs is going to play a very key role in the country's ongoing transformation into a diversified knowledge economy instead of being an oil-reliant economy as it is now, Oman Observer reported.
Oman's hydrocarbons sector, which accounts for about half of Oman's gross domestic product (GDP), is a major employer of Omanis as the sector. Thus, this sector needs to have a prominent role in addressing the country's pressing domestic challenges such as supporting the development of small and medium enterprises (SMEs), as well as fostering innovation and human development within Omani youth.
Due to Oman's plan to omaninize the sector and since a larger number of Oman's young and growing population are entering the domestic job market, the sector also needs to help in the process of matching workers' skills with the rapidly-evolving labor market requirements, especially in light of the highly-competitive market which we have nowadays which requires a very high level of skill and knowledge, which are basis that need to drive Oman's economy in the future.
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